What was the amount of notes receivable, current, for Ledgers in 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
doubt about Loyalty Business Services, LLC's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Bernard Robinson & Company, I.S.P.
Raleigh, North Carolina April 28, 2025
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Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the notes receivable, current, for 2024 is not listed. The table provides the notes receivable, current, for 2023 which was $40,760 and for 2022 which was $229,901.
Notes receivable typically represent amounts owed to a business by its customers or other parties, usually documented by a formal promissory note. The 'current' portion indicates amounts due within one year. For a prospective Ledgers franchisee, understanding the nature and collectability of these receivables is crucial. High levels of notes receivable could indicate aggressive financing strategies or potential collection issues.
Since the 2024 amount is missing, it is important for a potential franchisee to ask Ledgers about the notes receivable, current, for 2024. Understanding the trend in notes receivable (from 2022 to 2023) can offer insights into the company's financing activities and risk management practices. This information is essential for assessing the financial health and stability of Ledgers.